6 ms·

what's your point? you dont think the administration plays any role in the increased gas prices, it's only the evil+greedy oil execs?

ceejayoz 4y ago
> you dont think the administration plays any role in the increased gas prices Essentially correct. Presidents have very little control over this.
- misiti3780 4y ago
  Yes, they do. They control things like this. https://www.cnbc.com/2022/02/24/biden-administration-pausing-new-oil-and-gas-leases-amid-legal-battle-.html https://www.cnbc.com/2022/02/24/biden-administration-pausing... We could drill our away out of this problem, but we are not, because the the biden administration is being held hostage by the progressive left. And before you start calling me a republican, im not one, but this is just a really stupid idea because it's decisions like this that will cause republicans to be elected in 2022 and 2024 - the american public isnt going to take higher gas prices for the team to fight climate change at this point, they are going to vote people into office that will lower them. biden doesnt realize this because he is surrounded by people that think a like and are too rich to be unaffected by inflation, or he doesnt care -- either way, it s a bad position
  - ceejayoz 4y ago
    > We could drill our away out of this problem, but we are not, because the the biden administration is being held hostage by the progressive left. Saying this doesn't make it true. https://apnews.com/article/fact-checking-452931879750 https://apnews.com/article/fact-checking-452931879750 > The U.S. was producing 11.185 million barrels of crude oil per day in 2021, compared with an average of 11.283 million barrels per day in 2020, according to data from the U.S. Energy Information Administration. The latest data shows that for the week of March 4, 2022, the U.S. is producing 11.6 million barrels per day. > While there was a dip in oil production in February 2021 due to winter storms in Texas, said Mark Finley, a fellow in energy and global oil at Rice University in Houston, the U.S. remains the world’s biggest producer of crude oil. https://apnews.com/article/joe-biden-business-science-environment-and-nature-6ac8ff49970e4b052489678b40e3ba82 https://apnews.com/article/joe-biden-business-science-enviro... > Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W. Bush was president, underscoring President Joe Biden’s reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance.
    - nightski 4y ago
      You can't look at the oil market in isolation like that. Saudi was dumping oil at that point, producing way more than necessary. So much so futures went negative. That is not the case today.
      - ceejayoz 4y ago
        > That is not the case today. As a deliberate political choice by the Saudis. https://theintercept.com/2022/02/15/saudi-arabia-gas-price-oil/ https://theintercept.com/2022/02/15/saudi-arabia-gas-price-o...
        nightski 4y ago
        Which is largely irrelevant.
        ceejayoz 4y ago
        As is the President re: gas pricing.
        nightski 4y ago
        Which is not true either, as the dip we've seen over the past several weeks can attest. We've deeply tapped into our reserves (much more than expected as released yesterday) to achieve this. It seems like it might be short sighted and short lived. Also if the president has no effect on gas prices why was ours groveling at the feet of the Saudi Prince?
        ceejayoz 4y ago
        > Also if the president has no effect on gas prices why was ours groveling at the feet of the Saudi Prince? Because they're the people who can have an effect? If Biden could tweak gas prices, he wouldn't have to do that.
  - shagie 4y ago
    https://www.marketplace.org/2022/03/07/why-do-we-import-russian-oil-when-theres-lot-u-s/ https://www.marketplace.org/2022/03/07/why-do-we-import-russ... > Now, you could be excused for asking yourself: “Wait a second, I thought the U.S. had a bunch of oil in the Permian Basin in Texas and the Bakken Shale in North Dakota. Why the heck are we importing oil?” Turns out the answer is part chemistry and part economics. > ... > That’s because they take longer to process and need specialized refining equipment. This cheap, lower-quality crude comes from Canada, Venezuela and Russia, among other spots. Back in the late 1990s and early 2000s, it was the product U.S. refiners were buying. > “A lot of refineries, especially in the Gulf Coast, made a very expensive bet to invest in this equipment that would allow them to save money on input costs by processing, you know, lower-quality crude,” said Richard Sweeney, an assistant professor of economics at Boston College. --- We can't drill our way out of this because we can't refine the oil that we produce. Here's another article from 2019 - https://financialpost.com/commodities/energy/the-great-oil-paradox-too-many-good-crudes-not-enough-bad-ones https://financialpost.com/commodities/energy/the-great-oil-p... > Refiners who invested billions to turn a profit from processing cheap low-quality crude are paying unheard of premiums to find the heavy-sour grades they need. The mismatch is better news for such OPEC producers as Iraq and Saudi Arabia, who don’t produce much light-sweet, but pump plenty of the dirtier stuff.
- namelessoracle 4y ago
  Then why is the Biden admin bragging about lowering prices this summer?
  - ceejayoz 4y ago
    If the other side claims you can control them to score points when they go up, why would you not point out when they go down?
    - 9991 4y ago
      Integrity?
      - ceejayoz 4y ago
        It's not lacking in integrity to point out your opponent's criticism is no longer valid, even if - especially when - that criticism was made in bad faith.
blululu 4y ago
I’m sure both oil refinery executives and the executive branch of the us government wish that they did have that much control over gas prices. The reality is that gas prices are set by market mechanisms of an international commodity. Gas costs what it costs.
- _ea1k 4y ago
  There is a regulatory aspect as well. The current regulatory environment is not encouraging an increase in refinery capacity, and that seems to be our current bottleneck. This is not a value judgment as to whether this is right or wrong.
  - throwaway5959 4y ago
    Should Joe Biden get some streamers and make a poster to show his support for oil refineries? He isn’t in charge of spending; that’s Congress. Maybe he should issue an executive order forcing oil refining capacity back online? Then you’d bitch about government overreach.
  - misiti3780 4y ago
    i pointed that out below and got downvoted.
- twoquestions 4y ago
  Correct, the last POTUS that did something to meaningfully impact gas/oil prices was Bush II when he invaded Iraq, and Obama a little bit when he decreased Iranian oil sanctions. For better or worse, we don't live in anything resembling a command economy.

ceejayoz 4y ago

> you dont think the administration plays any role in the increased gas prices Essentially correct. Presidents have very little control over this.

misiti3780 4y ago
Yes, they do. They control things like this. https://www.cnbc.com/2022/02/24/biden-administration-pausing-new-oil-and-gas-leases-amid-legal-battle-.html https://www.cnbc.com/2022/02/24/biden-administration-pausing... We could drill our away out of this problem, but we are not, because the the biden administration is being held hostage by the progressive left. And before you start calling me a republican, im not one, but this is just a really stupid idea because it's decisions like this that will cause republicans to be elected in 2022 and 2024 - the american public isnt going to take higher gas prices for the team to fight climate change at this point, they are going to vote people into office that will lower them. biden doesnt realize this because he is surrounded by people that think a like and are too rich to be unaffected by inflation, or he doesnt care -- either way, it s a bad position
- ceejayoz 4y ago
  > We could drill our away out of this problem, but we are not, because the the biden administration is being held hostage by the progressive left. Saying this doesn't make it true. https://apnews.com/article/fact-checking-452931879750 https://apnews.com/article/fact-checking-452931879750 > The U.S. was producing 11.185 million barrels of crude oil per day in 2021, compared with an average of 11.283 million barrels per day in 2020, according to data from the U.S. Energy Information Administration. The latest data shows that for the week of March 4, 2022, the U.S. is producing 11.6 million barrels per day. > While there was a dip in oil production in February 2021 due to winter storms in Texas, said Mark Finley, a fellow in energy and global oil at Rice University in Houston, the U.S. remains the world’s biggest producer of crude oil. https://apnews.com/article/joe-biden-business-science-environment-and-nature-6ac8ff49970e4b052489678b40e3ba82 https://apnews.com/article/joe-biden-business-science-enviro... > Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W. Bush was president, underscoring President Joe Biden’s reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance.
  - nightski 4y ago
    You can't look at the oil market in isolation like that. Saudi was dumping oil at that point, producing way more than necessary. So much so futures went negative. That is not the case today.
    - ceejayoz 4y ago
      > That is not the case today. As a deliberate political choice by the Saudis. https://theintercept.com/2022/02/15/saudi-arabia-gas-price-oil/ https://theintercept.com/2022/02/15/saudi-arabia-gas-price-o...
      - nightski 4y ago
        Which is largely irrelevant.
        ceejayoz 4y ago
        As is the President re: gas pricing.
        nightski 4y ago
        Which is not true either, as the dip we've seen over the past several weeks can attest. We've deeply tapped into our reserves (much more than expected as released yesterday) to achieve this. It seems like it might be short sighted and short lived. Also if the president has no effect on gas prices why was ours groveling at the feet of the Saudi Prince?
        ceejayoz 4y ago
        > Also if the president has no effect on gas prices why was ours groveling at the feet of the Saudi Prince? Because they're the people who can have an effect? If Biden could tweak gas prices, he wouldn't have to do that.
- shagie 4y ago
  https://www.marketplace.org/2022/03/07/why-do-we-import-russian-oil-when-theres-lot-u-s/ https://www.marketplace.org/2022/03/07/why-do-we-import-russ... > Now, you could be excused for asking yourself: “Wait a second, I thought the U.S. had a bunch of oil in the Permian Basin in Texas and the Bakken Shale in North Dakota. Why the heck are we importing oil?” Turns out the answer is part chemistry and part economics. > ... > That’s because they take longer to process and need specialized refining equipment. This cheap, lower-quality crude comes from Canada, Venezuela and Russia, among other spots. Back in the late 1990s and early 2000s, it was the product U.S. refiners were buying. > “A lot of refineries, especially in the Gulf Coast, made a very expensive bet to invest in this equipment that would allow them to save money on input costs by processing, you know, lower-quality crude,” said Richard Sweeney, an assistant professor of economics at Boston College. --- We can't drill our way out of this because we can't refine the oil that we produce. Here's another article from 2019 - https://financialpost.com/commodities/energy/the-great-oil-paradox-too-many-good-crudes-not-enough-bad-ones https://financialpost.com/commodities/energy/the-great-oil-p... > Refiners who invested billions to turn a profit from processing cheap low-quality crude are paying unheard of premiums to find the heavy-sour grades they need. The mismatch is better news for such OPEC producers as Iraq and Saudi Arabia, who don’t produce much light-sweet, but pump plenty of the dirtier stuff.
namelessoracle 4y ago
Then why is the Biden admin bragging about lowering prices this summer?
- ceejayoz 4y ago
  If the other side claims you can control them to score points when they go up, why would you not point out when they go down?
  - 9991 4y ago
    Integrity?
    - ceejayoz 4y ago
      It's not lacking in integrity to point out your opponent's criticism is no longer valid, even if - especially when - that criticism was made in bad faith.

blululu 4y ago

I’m sure both oil refinery executives and the executive branch of the us government wish that they did have that much control over gas prices. The reality is that gas prices are set by market mechanisms of an international commodity. Gas costs what it costs.

_ea1k 4y ago
There is a regulatory aspect as well. The current regulatory environment is not encouraging an increase in refinery capacity, and that seems to be our current bottleneck. This is not a value judgment as to whether this is right or wrong.
- throwaway5959 4y ago
  Should Joe Biden get some streamers and make a poster to show his support for oil refineries? He isn’t in charge of spending; that’s Congress. Maybe he should issue an executive order forcing oil refining capacity back online? Then you’d bitch about government overreach.
- misiti3780 4y ago
  i pointed that out below and got downvoted.
twoquestions 4y ago
Correct, the last POTUS that did something to meaningfully impact gas/oil prices was Bush II when he invaded Iraq, and Obama a little bit when he decreased Iranian oil sanctions. For better or worse, we don't live in anything resembling a command economy.